In the last couple months, I have wrote more and more about my personal finances and being as transparent as possible with you my audience. Honestly, I never sent out to be some type of trailblazer for transparency when it comes to my business. I just decided that I would be an open book mainly so no one could throw my past mistakes in my finance. Owning up to where I was in my past and where I am now as a business owner.
We have talked about financial moves you should make, increasing your credit score by 200 points, creating better money habits and much more in previous months. Today, I want to talk about your prosperous outlook in general. This is the most important part of succeeding in your finances.
False Beliefs Regarding Money
If you were not born with a silver spoon in your mouth you probably heard a plethora of false or negative thoughts regarding money when growing up. From stories that “money doesn’t grow on trees, you will always be middle class, one paycheck from being homeless or you even told yourself you are not good at managing money”. See, that is the start of the financial problems you are having. Since forever you have being allow negativity to run your thoughts on money.
First, you must identify what caused you to have these beliefs. Let me point out if you are over 18 you can leave the fault in your parents hands. That is another excuse of “my parents never taught me how to manage money, they were always in debt” and more. I had all these thoughts running through my own head. I truly had to own to the fact that I am adult and I am responsible for my own prosperous outlook on life.
Creating Easy Plan
Building wealth takes a process and it does not happen overnight and most people who achieve financial success overnight end up wasting it. One thing, I work with all my clients is knowing how much money they want to make a year. That is a starting point for what we need to do to build a solid business. If you want to make $50,000 dollars a year we establish a plan not only to make that but also save and grow your business. Learn how to break down your dreams by the number so you can achieve your financial goals.
Most people create outlandish plans and then get frustrated when they don’t hit the numbers. As, stated before I knew I was not going to pay $70,000 of debt off in a year. I would legit have to live on rice, cabbage and sit in my house. Like no, life at all. That was something I could not do to myself. I created a debt plan and used my financial planner and debt tracker to help me. The goal is to be debt free by 32.
The best way to build wealth is to get out of debt, save, and live in your means. So, many times people do not live in their means. Heck, I use to be that person now I am focused on living on what I have. You truly have more money than you need its just going to the wrong places and your mindset is not your friend. Creating a wealth building mindset is going to be a huge part of you succeeding.